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Earnings Estimates Moving Higher for Carpenter Technology (CRS): Time to Buy?

Highs and Lows Stock Data

Carpenter Technology CorporationCRS is a leading manufacturer and distributor of specialty metals that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CRS's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Carpenter Technology could be a solid choice for investors.

Current Quarter Estimates for CRS

In the past 30 days, two estimates have gone higher for Carpenter Technology while one has gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 39 cents a share 30 days ago, to 45 cents today, a move of 15.4%.

Current Year Estimates for CRS

Meanwhile, Carpenter Technology's current year figures are also looking quite promising, with three estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 79 cents per share 30 days ago to 90 cents per share today, an increase of 13.9%.

Carpenter Technology Corporation Price and Consensus

Carpenter Technology Corporation Price and Consensus | Carpenter Technology Corporation Quote

Bottom Line

The stock has also started to move higher lately, adding 5.2% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today's Zacks #1 Rank stocks here.

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It's not the one you think.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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